Sec. 23. (a) If, after an owner makes a beneficiary designation, the owner's marriage is dissolved or annulled, any provision of the beneficiary designation in favor of the owner's former spouse is revoked on the date the marriage is dissolved or annulled. Revocation under this subsection is effective regardless of whether the beneficiary designation refers to the owner's marital status. The beneficiary designation is given effect as if the former spouse had not survived the owner.
(b) Subsection (a) does not apply to a provision of a beneficiary designation that:
(1) has been made irrevocable, or revocable only with the spouse's consent;
(2) is made after the marriage is dissolved or annulled; or
(3) expressly states that the dissolution or annulment of the marriage does not affect the designation of a spouse or a relative of the spouse as a beneficiary.
(c) A provision of a beneficiary designation that is revoked solely by subsection (a) is revived by the owner's remarriage to the former spouse or by a nullification of the dissolution or annulment of the marriage.
As added by P.L.143-2009, SEC.41. Amended by P.L.36-2011, SEC.14.
Structure Indiana Code
Article 17. Interests in Property
Chapter 14. Transfer on Death Property Act
32-17-14-0.2. Application of Prior Law
32-17-14-2.1. Application of Chapter to Preexisting Transfer on Death Transfers
32-17-14-5. General Rules Concerning Transfer on Death Transfers
32-17-14-6. Authority of a Transferring Entity
32-17-14-7. Agreement Between Owner and Transferring Entity
32-17-14-8. Transferring Entity's Acceptance of a Beneficiary Designation
32-17-14-9. Beneficiary Designation; Effects; Requirements
32-17-14-10. Assignment of Contract Rights
32-17-14-11. Transfer on Death Deeds
32-17-14-12. Transfer on Death Transfers of Tangible Personal Property
32-17-14-13. Direct Transfer to a Transferee to Hold as Owner in Beneficiary Form
32-17-14-14. Registration in Beneficiary Form
32-17-14-16. Changing or Revoking a Beneficiary Designation
32-17-14-17. Powers of an Attorney in Fact, a Guardian, a Conservator, or an Agent
32-17-14-20. Beneficiary Required to Survive the Owner
32-17-14-21. Trusts as Designated Beneficiaries
32-17-14-22. Substitution for Designated Beneficiaries Who Do Not Survive the Owner
32-17-14-23. Effect of Dissolution or Annulment
32-17-14-24. Fraud, Duress, Undue Influence, Mistake, or Lack of Capacity
32-17-14-25. Rights of Surviving Spouses and Children
32-17-14-26. General Rules Applying to a Beneficiary Designation
32-17-14-27. Powers and Duties of a Transferring Entity
32-17-14-28. Effect of Improper Distributions
32-17-14-29. Creditors of an Owner